Ohio Valley Banc Corp Reports Q2 Earnings Decline
Ohio Valley Banc Corp (Nasdaq: OVBC) reported a decline in second-quarter net income for the quarter ended June 30, 2026. Net income fell by $1.28 million to $2.93 million compared to the same period last year, with earnings per share dropping from $.89 to $.62. Over the first half of 2026, net income totaled $7.22 million, a decrease of $1.39 million or 16.2% from the prior-year period. The company attributed its performance primarily to an increase in provision for credit losses tied to specific commercial credits rather than broader portfolio issues. Net interest income rose due to growth in average earning assets and loans, which were funded by promotional deposit offerings such as certificates of deposit and money market accounts. However, the net interest margin declined slightly year-over-year. The CEO expressed confidence in the company's balance sheet strength despite challenges from rising funding costs and a narrowing net interest margin.
Tickers: $OVBC
Topics: banking credit losses net income decline